Developing Royalty Assetsin North America

St. Elmo

Property Highlights (Au,Ag):

Geology/Description:The St. Elmo Gold Project is located in northeastern Nevada, 20 miles south of the Idaho border and 69 miles north of the city of Elko. It covers about 75% of the historic Island Mountain mining district on the northern flank of the northeast-trending Midas Trough metallogenic trend, one of several important epithermal gold belts in Nevada. The St. Elmo mine was likely discovered in the late 1870s after the District was established in 1869 at Rosebud Mountain. Underground mining at that time and again in the 1940s resulted in only limited production of high grade pockets on the vein. Modern exploration in the late 1980s and 1990s included surface and underground sampling as well as limited surface drilling.

Gold mineralization at the St. Elmo mine is hosted in a north to northeast-trending structural zone, 6 to 30 feet wide, containing quartz veins and hydrothermal breccias. Free gold in the quartz veins is associated with sulfide minerals and in hydrothermal breccias cemented with hematite. The St. Elmo vein textures, wall-rock alteration features and suite of associated copper-sulfide minerals are suggestive of a high-sulfidation epithermal environment.Mapping by previous explorers indicates this system extends north and south well beyond the St. Elmo mine itself and is probably at least 4,000 feet long.